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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0343%/8h= +37.5% APRpaid last 24h +0.067%
Price spread now: BloFin against Polymarket Perps−0.024%7-day average +0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$310.310% of the position
Long on Polymarket PerpsShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.167%+$17 on $10k
Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.024%, 7d avg +0.046%
Together, before fees+0.208%+$21 on $10k · with fees, hour by hour
Funding pays, the price is against you. BloFin is 0.071% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of +0.046%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.167% in total) that is about 3.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.167% in total (about 8.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps MSTR-USD163.810.0050pay 0.0006% / 1h39m 12s$379K$2.7M10x
ShortBloFin MSTR-USDT163.770.0393get 0.0393% / 8h39m 12s$1.0M$2.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$71.99
Price spread: −0.024% → +0.046%
−$7.08
Slippage, 4 orders
−$10.95
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee BloFin: 6 bp × 2 orders
−$12
Net
$33.96
Costs to cover
0.310%
Break-even
3.7 days
Slippage from Polymarket Perps: live order book, 5 min ago; BloFin: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 5 min ago2.44 bp9.5 bp −$912.0 bp −$12013.8 bp −$1,380doesn't fit
Sell BloFin live order book, 4 min ago0.31 bp7.2 bp −$710.8 bp −$10825.1 bp −$2,510doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0392%8h163.84+0.018%$29.5M$118.9M25xas long as short
Gate MSTR_USDT0.0000%8h163.90+0.055%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.79−0.012%$2.8M$82K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.61−0.122%$502K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.376%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h164.09+0.171%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.87+0.037%—$1.8M25xas long as short
Polymarket Perps MSTR-USDlong+0.0050%1h163.81long leg$379K$2.7M10x
Ondo Perps MSTR-USD.P+0.0050%1h163.79−0.012%$868K$3.7M10xas long as short
SoDEX MSTR-USD+0.0064%1h163.72−0.055%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0067%1h163.76−0.031%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0078%8h163.71−0.061%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.73−0.049%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.72−0.055%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.92+0.067%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.70−0.067%$2K$13K10xas long as short
Lighter MSTR+0.0104%1h163.68−0.079%$3.5M$2.0M10xas long as short
Aevo MSTR-PERP+0.0104%1h163.56−0.150%$136—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h161.52−1.398%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0170%8h163.74−0.046%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0199%8h163.71−0.061%$20.9M$100.1M50xas long as short
Variational Omni MSTR+0.0202%8h164.04+0.142%$1.2M$2.0M—as long as short
Binance MSTRUSDT+0.0273%8h163.72−0.055%$84.3M$620.9M50xas long as short
GRVT MSTR_USDT_Perp+0.0283%8h164.14+0.202%$85K$849K10xas long as short
Nado MSTR-PERP+0.0321%1h163.72−0.054%$125K$165K3xas long as short
Phoenix MSTR+0.0357%1h164.20+0.237%$56K$223K10xas long as short
BloFin MSTR-USDTshort+0.0393%8h163.77−0.024%$1.0M$2.1M20x
Bybit MSTRUSDT+0.0415%8h163.73−0.049%$17.1M$41.7M50xas long as short
RISEx MSTR/USDC+0.0493%1h163.80−0.006%$266K$419K10xas long as short
tradeXYZ xyz:MSTR+0.0509%1h163.83+0.012%$54.2M$37.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0790%1h163.69−0.073%$278K$437K10xas long as short
edgeX MSTRUSDC+0.0859%4h164.05+0.148%$46K$5.4M10xas long as short